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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: They get the cash after they're loaded Posted by Kristine-CA on May 07, 2009 at 4:51 PM In Reply to: They get the cash after they're loaded posted by Tom on May 06, 2009 at 1:51 PM Unfortunately, as an owner offering CFK in my area, I'm competing with a city program that offers 1K cash to people who have been served eviction papers. However they need to get all the way to a lockout date to get the cash. It sounds bad, I can only hope that the program runs out of money soon. Unfortunately, there are some educated tenants out there that know how to work that system. So, for those that have the capacity to move (mental space, moving vehicle or friends with moving vehicle AND a place to go) CFK has served me well. Like I said, it can't/won't work with everyone. Once I sent a CFK letter to a squatting tenant that was so out of it. The letter offered CFK, starting with 2K, with a sliding scale for the time it took for him to get out. His out of town SIL found the note when visiting just two days before the deadline. She called and said I had to pay them the max if they moved him out. I said no and call me back if and when they were ready to show me that the property was vacant and they could have 1K. They got him out of there, his stuff and the trash in one afternoon before deadline. I rarely see that kind of motivation. : Boy have you learned the hard way, but that's usually the best way in the long run. We would pay up to $3,000 which amounted to roughly 2.5 - 3 x monthly rent for equivalent living accomodations, so I'd say 5 x is rather steep from my experience. I've never heard of any institutional lenders paying that much. We netted out estimated moving expenses, deposits, etc from the cash given to the squatter. We tried all the precautions, as we were usually working with experienced PM. You brought up some good points and I suspect it also depends on how much advice the squatters are getting from Legal Aid, et al and how sympathetic the local courts are. : BTW did you see the article in the WSJ yesterday or Monday where a TX bank demolished 19 (?) houses in Victorville because they determined it was the cheapest out vis-a-vis completing the subdivision? Victorville is crying around about it, but with all demands that cities are putting for property maintenace and repairs on lenders I think that cities are getting what they deserve. From experience I can tell you that some cities while technically within the law can make some pretty unreasonable demands given the situations, so I feel some cities have brought this on themselves. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Unfortunately, as an owner offering CFK in my area, I'm competing with a city program that offers 1K cash to people who have been served eviction papers. However they need to get all the way to a lockout date to get the cash. It sounds bad, I can only hope that the program runs out of money soon. Unfortunately, there are some educated tenants out there that know how to work that system. So, for those that have the capacity to move (mental space, moving vehicle or friends with moving vehicle AND a place to go) CFK has served me well. Like I said, it can't/won't work with everyone. Once I sent a CFK letter to a squatting tenant that was so out of it. The letter offered CFK, starting with 2K, with a sliding scale for the time it took for him to get out. His out of town SIL found the note when visiting just two days before the deadline. She called and said I had to pay them the max if they moved him out. I said no and call me back if and when they were ready to show me that the property was vacant and they could have 1K. They got him out of there, his stuff and the trash in one afternoon before deadline. I rarely see that kind of motivation. : : Boy have you learned the hard way, but that's usually the best way in the long run. We would pay up to $3,000 which amounted to roughly 2.5 - 3 x monthly rent for equivalent living accomodations, so I'd say 5 x is rather steep from my experience. I've never heard of any institutional lenders paying that much. We netted out estimated moving expenses, deposits, etc from the cash given to the squatter. We tried all the precautions, as we were usually working with experienced PM. You brought up some good points and I suspect it also depends on how much advice the squatters are getting from Legal Aid, et al and how sympathetic the local courts are. : : BTW did you see the article in the WSJ yesterday or Monday where a TX bank demolished 19 (?) houses in Victorville because they determined it was the cheapest out vis-a-vis completing the subdivision? Victorville is crying around about it, but with all demands that cities are putting for property maintenace and repairs on lenders I think that cities are getting what they deserve. From experience I can tell you that some cities while technically within the law can make some pretty unreasonable demands given the situations, so I feel some cities have brought this on themselves. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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